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The Government of the Republic of Serbia

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IMF projects further economic growth for Serbia

Belgrade, 11 June 2025

First Deputy Prime Minister and Minister of Finance Siniša Mali stated, at the end of the visit of the International Monetary Fund (IMF) Mission to Serbia, that the financial institution projects further economic growth for the country, despite domestic and global challenges.

Mali specified that the IMF forecasts GDP growth of approximately 3% in 2025 and 4% in 2026, with an expected acceleration during the second half of the year, thanks to state investment programmes and the growth of export capacities, especially in the processing industry.

According to him, the Serbian government has committed to maintaining the fiscal deficit below 3% during the period from 2025 to 2027, and to continuing with this policy.

Sustainability of public finances, further reduction of public debt as a share of GDP are Serbia’s goals that the country will not give up on, the First Deputy Prime Minister emphasised.

He underlined that Serbia has a well-designed budget and is fully liquid.

The First Deputy Prime Minister pointed out that further work is ahead on improving the business environment, digitalisation of the public sector and reform of public enterprises, with a special focus on revitalisation and reform of the energy sector, adding that many infrastructure projects that increase GDP are also on the development path.

According to him, the IMF has also analysed Serbia’s monetary position and concluded that, despite challenges in the external trade balance, foreign exchange reserves remain high, which represents a significant shield against potential shocks.